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Shareholder Rights Plan
12 Months Ended
Dec. 31, 2012
Shareholder Rights Plan  
Shareholder rights plan

NOTE 16 – SHAREHOLDER RIGHTS PLAN

 

On May 7, 2002, and as amended on December 29, 2010, and May 20, 2011, the Board of Directors adopted a shareholder rights plan (“Rights Agreement”) whereby one right was distributed for each share of common stock, par value $0.01 per share, of the Company held by shareholders of record (the “Rights”) as of the close of business on May 31, 2002.  The Rights Agreement, as well as the Rights, expired on May 31, 2012.